{"id":18432,"date":"2023-03-07T17:09:30","date_gmt":"2023-03-07T17:09:30","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/xrp-matic-rebound-on-tuesday-following-recent-lows-market-updates-bitcoin-news\/"},"modified":"2023-03-07T17:09:30","modified_gmt":"2023-03-07T17:09:30","slug":"xrp-matic-rebound-on-tuesday-following-recent-lows-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/xrp-matic-rebound-on-tuesday-following-recent-lows-market-updates-bitcoin-news\/","title":{"rendered":"XRP, MATIC Rebound on Tuesday, Following Recent Lows \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Xrp rose higher in Tuesday\u2019s session, as prices continued to move away from a long-term support point. Overall, sentiment in cryptocurrencies remained largely bearish, with the global market cap down 0.34% as of writing. Polygon was also in the green at the time of writing. <\/strong><\/p>\n

XRP<\/a>, formerly ripple, was a notable gainer on Tuesday, as the token continued to move away from a recent support point.<\/p>\n

Following a low of $0.3648 to start the week, XRP<\/a>\/USD rose to an intraday high of $0.3751 earlier in the day.<\/p>\n

The move resulted in XRP<\/a> bouncing from a long-term price floor at $0.3650, following a recent four-day losing streak.<\/p>\n

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XRP<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

From the chart, it appears that this took place as the 14-day relative strength index (RSI) broke out of its own ceiling at 43.00.<\/p>\n

As of writing, the index is now tracking at 43.97, with the next visible resistance point at 45.00.<\/p>\n

Should this ceiling be hit, there is a strong chance that XRP<\/a> will be trading at, or above, the $0.3800 mark.<\/p>\n

Polygon (MATIC)<\/h2>\n

Polygon (MATIC) also rose higher in today\u2019s session, a day after bulls rejected a breakout at a key price level.<\/p>\n

MATIC\/USD moved to a peak of $1.17 on Tuesday, which comes after a bottom at $1.12 the day prior.<\/p>\n

As a result of this move, polygon bulls pushed prices further away from a recent floor at $1.10.<\/p>\n

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MATIC\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Overall, it appears that this rebound coincides with the RSI moving away from a recent floor at 39.00.<\/p>\n

Currently, price strength is tracking at 41.17, with the nearest point of resistance being at the 45.00 mark.<\/p>\n

Bulls could likely target this point, and should they reach it, MATIC could move above $1.20.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Do you expect polygon to maintain this uptrend in the coming days? Let us know your thoughts in the comments.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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